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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2000
  • Net Assets as of 12/31/2019 $71,140,482
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,477
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits2,011
  • Subtotal5,488
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total5,488
  • Total number of participants as of 01/01/20195,371
  • Number of participants with account balances4,941
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested73

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address800 North Fant Street
  • CityAnderson
  • StateSC
  • Zip29621
  • Telephone(864) 261-1000
  • EIN57-0359174
  • Industry Code622000
  • Named AdministratorTeresa Threlkeld

Audit Information

  • Audit StatusAudited
  • AuditorDixon Hughes Goodman LLP
  • Auditor EIN56-0747981
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $5,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $18,790,106
Contributions $7,148,813
Cash Contributions $7,148,813
Cash from Employers $7,148,641
Cash from Participants $0
Others (including rollovers) $172
Noncash Contributions $0
Total Earnings on Investments $11,641,293
Total Interest $264,998
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $22,163
Interest from Other Investments $242,835
Total Dividends $1,572,905
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $9,803,390
Other Income $0
Expenses $3,779,303
Total Benefit Payments $3,669,356
Directly to participants or beneficiaries, including direct rollovers $3,669,356
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $43
Certain deemed distributions of participant loans $13,977
Interest expense $0
Total Administrative Expenses $95,927
Professional Fees $0
Contract Administrator Fees $95,927
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $15,010,803
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $71,140,482 $56,129,679 26.74%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $396,417 $367,816 7.78%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $58,968,462 $45,536,083 29.50%
Value of funds held in insurance co. general account $11,775,603 $10,225,780 15.16%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $71,140,482 $56,129,679 26.74%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Valic Retirement Services Company Custodial (securities), Investment advisory (participants), Investment management, Legal, Securities brokerage, Participant loan processing, Other services, Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Finders' fees/placement fees, Distribution (12b-1) fees, Recordkeeping fees, Other investment fees and expenses, Other fees No Relationship $95,927 $0 $95,927
Total $95,927 $0 $95,927

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Variable Annuity Life Insurance Company 4,946
EIN 74-1625348
Industry Code 70238
Contract Number 50808
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $11,775,603
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Deposit Administration
Balance at the end of the previous year $10,225,780
Additions $2,488,365
Contributions Deposited during the year $1,244,050
Dividends and credits $0
Interest credited during the year $242,835
Transferred from separate account $1,001,480
Other $0
Total of Balance and Additions $12,714,145
Deductions $938,542
Disbursed from fund to pay benefits or purchase annuities during the year $887,212
Administration charge made by carrier $0
Transferred to Separate Account $35,538
Other $15,792
Balance at the end of the current year $11,775,603